SEOUL (MNI) – Europe stands a “very good” chance of getting out of
its current debt crisis, although the process will take time, Riksbank
Deputy-Governor Lars Nyberg told Market News International Friday.
“There’s a very good chance to get out of the situation in Europe
in a slow, but workable fashion,” he said on the sidelines of the
Financial Stability Board meeting here.
“It takes time to make changes in these countries. Look at the
Baltic countries, which were in great trouble two years ago, but they
have certainly made their way out of this and are getting out of the
bottom in a quick way.”
Nyberg noted that southern and eastern European countries are now
treading the same path as the Baltic states before them in reining in
government budgets and reforming their economies to work more
efficiently.
“It works — it takes time, but it works,” he said.
beijing@marketnews.com
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